A company is considering a project that would cost $6,000,000, which would be financed with the issue of new shares. Currently, the company has 1,500,000 shares outstanding that have a book value of $18 per share. If the company proceeds with the project, its new market value per share is expected to be $24 and its new EPS is expected to be $0.75. Assume the company's current PE ratio would remain constant. What is the company's current PE ratio?

Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas in your response. For example, an answer of 1,000.50 should be entered as 1000.50.